California Financial Code 12316 – If a prorater contracts for, receives or makes any charge in excess …
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If a prorater contracts for, receives or makes any charge in excess of the maximum permitted by this division, except as the result of an accidental and bona fide error, the prorater’s contract with the debtor shall be void and the prorater shall return to the debtor all charges received from the debtor.
(Added by Stats. 1957, Ch. 498.)
Terms Used In California Financial Code 12316
- Contract: A legal written agreement that becomes binding when signed.